Lipe & Dalton Has $1.13 Million Position in Fortive Corporation (FTV)
Lipe & Dalton lowered its stake in shares of Fortive Corporation (NYSE:FTV) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,897 shares of the technology company’s stock after selling 277 shares during the period. Lipe & Dalton’s holdings in Fortive Corporation were worth $1,134,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of FTV. Jacobi Capital Management LLC increased its position in shares of Fortive Corporation by 25.5% in the first quarter. Jacobi Capital Management LLC now owns 1,724 shares of the technology company’s stock valued at $104,000 after buying an additional 350 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co increased its position in shares of Fortive Corporation by 20.0% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,800 shares of the technology company’s stock valued at $108,000 after buying an additional 300 shares in the last quarter. BDO Wealth Advisors LLC purchased a new position in shares of Fortive Corporation during the second quarter valued at $128,000. CENTRAL TRUST Co increased its position in shares of Fortive Corporation by 1.0% in the second quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock valued at $147,000 after buying an additional 23 shares in the last quarter. Finally, First Personal Financial Services increased its position in shares of Fortive Corporation by 17.3% in the first quarter. First Personal Financial Services now owns 2,372 shares of the technology company’s stock valued at $142,000 after buying an additional 350 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors and hedge funds.
Fortive Corporation (NYSE FTV) opened at 64.49 on Tuesday. The stock has a 50 day moving average of $64.91 and a 200 day moving average of $61.96. The stock has a market cap of $22.38 billion, a P/E ratio of 25.40 and a beta of 0.23. Fortive Corporation has a 12-month low of $46.81 and a 12-month high of $67.48.
Fortive Corporation (NYSE:FTV) last issued its quarterly earnings data on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.02. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the business earned $0.64 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts anticipate that Fortive Corporation will post $2.79 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, August 25th will be given a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.28 annualized dividend and a dividend yield of 0.43%. Fortive Corporation’s dividend payout ratio is currently 11.02%.
Several equities analysts have weighed in on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $66.00 price target (up previously from $65.00) on shares of Fortive Corporation in a report on Sunday, July 30th. Zacks Investment Research downgraded shares of Fortive Corporation from a “buy” rating to a “hold” rating in a report on Friday. Morgan Stanley reaffirmed an “equal weight” rating on shares of Fortive Corporation in a report on Tuesday, July 11th. Stifel Nicolaus reaffirmed a “hold” rating and set a $62.00 price target on shares of Fortive Corporation in a report on Sunday, July 30th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Fortive Corporation in a report on Monday, May 22nd. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $61.82.
In other news, CFO Charles E. Mclaughlin sold 6,565 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $66.09, for a total value of $433,880.85. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Emily A. Weaver sold 3,749 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $62.27, for a total value of $233,450.23. The disclosure for this sale can be found here. 12.10% of the stock is owned by corporate insiders.
Fortive Corporation Company Profile
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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